The proceeds, estimated to be $148.1 million, will be used to repay outstanding borrowings under the company's unsecured credit facility, according to Mitchell E. Hersh, Mack-Cali's president and CEO. A portion of the proceeds will also be used as general working capital.
"This issuance enables us to take advantage of the favorable interest rate environment," Hersh says. "It is also a demonstration of the financial community's confidence in Mack-Cali."
Citigroup, JP Morgan and Wachovia Securities served as joint bookrunning managers on the issuance. The co-managers were Bear Stearns & Co., BNY Capital Markets Inc., Deutsche Bank Securities, PNC Capital Markets, Scotia Capital, SunTrust Robinson Humphrey, Piper Jaffray and Wells Fargo Securities.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
